intellectual property prospector · sepracor, incorporated 06.0146 loss/deficit sequenom,...

Intellectual Property ProspectorIP Assets Owned by Firms in Transition

November 13, 2006Volume 1, Number 7

Prospector Profiles in this Issue

Company NameReferenceNumber Category Profile

Actis Global Ventures, Inc. 06.0129 Loss/DeficitAdsero Corporation 06.0130 Loss/DeficitAdsouth Partners, Inc. 06.0131 Loss/DeficitCarrols Corporation 06.0132 Low RatingConexant Systems, Inc. 06.0133 Low RatingCritical Therapeutics, Inc. 06.0134 Loss/DeficitDOV Pharmaceutical, Inc. 06.0135 RestructuringDura Automotive Systems, Inc. 06.0136 BankruptcyHeadliners Entertainment Group, Inc. 06.0137 Loss/DeficitHealth Sciences Group, Inc. 06.0138 Loss/DeficitIceWEB, Inc. 06.0139 Loss/DeficitInterMune, Incorporated 06.0140 Loss/DeficitISTA Pharmaceuticals, Inc. 06.0141 Loss/DeficitIVI Communications, Inc. 06.0142 Loss/DeficitMichael's Stores, Inc. 06.0143 Low RatingNuTech Digital, Inc. 06.0144 Loss/DeficitRoo Group, Inc. 06.0145 Loss/DeficitSepracor, Incorporated 06.0146 Loss/DeficitSEQUENOM, Incorporated 06.0147 Loss/DeficitSequiam Corporation 06.0148 Loss/DeficitSunCom Wireless Holdings, Inc. 06.0149 Loss/DeficitWave Wireless Corporation 06.0150 BankruptcyWolverine Tube, Inc. 06.0151 Low Rating

(Click on Reference Number to go directly to Company Profile)

Intellectual Property Prospector identifies United States and Canadian companies with more than $1 millionin assets filing for bankruptcy or reporting other financial difficulty and profiles their ownership of intellectualproperty. The Prospector features companies that meet strictly defined, predetermined criteria and is designedto support the efforts of firms and individuals interested in identifying opportunities in the specific area ofintellectual property, which includes patents, trademarks, trade secrets, and licenses, among others.Information is compiled weekly and the Prospector is distributed by email every Sunday evening to arrivebefore 9:00AM every Monday. The Prospector is published by Beard Group, Inc. (http://BeardGroup.com).For subscription information call Customer Service at 240-629-3300, ext. 27.

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Prospector Profile Selection Criteria:

In order to appear in the Intellectual Property Prospector, a company must report ownership of intellectualproperty assets, as well as one of the conditions listed below:

• An event which indicates financial distress; e.g., default, distressed exchange offer, preferred dividendomission, debt at deep discount, restructuring, low rating, audit concerns, covenant problems, andloss/deficit.

• Chapter 11, 7, or 15 bankruptcy filing

• Section 363 Sales

DISCLAIMER: The conditions for inclusion in the Prospector are selected by the editors, because, in theiropinion, the occurrence of such an event or the existence of such a circumstance is a likely indicator of currentor prospective financial or operating difficulty. There are, however, other reasons why such facts orcircumstances may exist. The inclusion of a profile suggests the possibility of financial distress or thepossibility that the company may be of interest to firms and individuals interested in identifying intellectualproperty for some other reason. Inclusion should not be construed to represent analysis of the condition of thecompany or its intellectual property or a definitive determination that the company is in difficulty.

ACCURACY & COVERAGE: The information contained herein is obtained from sources believed to bereliable. However, the accuracy of most data cannot be verified prior to publication, and the information is notguaranteed. Desired information is often incomplete, inaccurate, delayed or unavailable. Do not rely on theProspector without independent verification.

SUBSCRIPTIONS: Subscription rate: $575 for six months, payable in advance. All subscriptions enteredare continued until canceled. For subscription information call Customer Service at (240) 629-3300, ext. 27.

Intellectual Property Prospector is a publication of Beard Group, Inc., P. O. Box 4250, Frederick, MD21705, (240) 629-3300, http://www.beardgroup.com. ISSN #to be determined. Copyright 2006. All rightsreserved. Publisher: Christopher Beard.

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Intellectual Property Prospector November 13, 2006

ProspectorProfile06.0129

Actis Global Ventures, Inc. NAICS 454300Employees 241905 Aston Avenue, Suite 101

Carlsbad, CA 92008(760) 448-2498 Revenue (mil) $7.75

Income (mil) ($3.02)Assets (mil) $2.28Liability (mil) $4.08

(for the year ended 12/31/2005)

Category: Loss/Deficit

Event: Actis Global Ventures, Inc., reported a $1,046,142 net loss on $3,045,700 of revenues forthe second quarter ended June 30, 2006, compared with a $48,081 net loss on $1,796,627 ofrevenues for the same period in 2005. The increase in net sales of $1,249,073 or 70% over 2005is primarily due to a net increase in revenue from Direct Sales from the BIOPRO Technologydivision of $2,725,219, or 69% over 2005, while the increase in net loss from 2005 is dueprimarily to the increase in non-cash expense recorded in the 2006 period. At June 30, 2006, thecompany's balance sheet showed $2,045,800 in total assets, $5,346,638 in total liabilities and$44,843 in minority interest in subsidiaries, resulting in a $3,345,681 stockholders' deficit. Thecompany's balance sheet at June 30, 2006, also showed strained liquidity with $1,289,849 in totalcurrent assets available to pay $5,346,638 in total current liabilities.

Intellectual Property: The Company's products are valuable based in large part on theirproprietary nature. The Company's marketing strength is also based in part upon know-how of thedirect selling industry. The Company's ability to market its products and take advantage of know-how depends upon its ability to prevent others from infringing upon intellectual property andother proprietary rights. The Company relies upon a combination of statutory protections andcommon law rights to establish and protect proprietary rights. [SEC Filing 10-K 04-17-06]

Description: ACTIS Global Ventures, Inc. markets a variety of leading edge wellness productsin the areas of Bioenergetics, Nutrition and Beauty through the Direct Sales and Direct ResponseTelevision channels.

Officers: Ray W. Grimm, Jr. (CEO, Int. CFO & Dir.); Alfred Hanser (Pres., Sec. & Dir.);Joseph V. Caracciolo (Dir.); Cindi Moore (Dir.)

Auditor: Peterson & Co., LLP

Securities: Common Stock-Symbol AGLV.OB; OTC BB;157,285,122 common shares outstanding as of March 31, 2006.

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Adsero Corporation NAICS 523920Employees 1442101 Nobel St.

Saint-Julie, QC J3E 1Z8 Canada(450) 922-5689 Revenue (mil) $27.84




Event: On August 21, 2006, Adsero Corporation reported a $10,661,585 net loss on $5,786,100of revenues for the quarter ended June 30, 2006, compared with $19,051 of net income earned on$6,328,742 of revenues for the same period in 2005. As of June 30, 2006, the Company's balancesheet reflected a stockholders' deficit of $8,304,794 and accumulated deficit stood at$30,742,962, compared with $20,081,378 as of March 31, 2006. The Company's June 30, 2006balance sheet also showed strained liquidity with $5,113,417 in total current assets available topay $18,915,861 in total current liabilities.

Intellectual Property: The Company seeks to maintain the confidentiality of information byrequiring employees, consultants and other parties to sign confidentiality agreements and bylimiting access by parties outside the Company to such information. The Company seeks toprotect technology, inventions and improvements that are important through the use of tradesecrets. Specifically, the Company believes that patent protection is of limited usefulness for itstechnologies, because competitors have the ability to develop substantially equivalent technology.Therefore, the Company relies on trade secrets and other unpatented proprietary technology. TheCompany owns the following trademarks in Canada and the Unites States: Technolaser,Evergreen, Reflexion and OEP - Original Equipment Protect. [SEC Filing 10-KSB 05-12-06]

Description: Adsero Corporation is engaged in financing activities and also in discussions withoperating businesses within the imaging consumables segment with respect to possible mergers,acquisitions and other types of business combinations.

Officers: Yvon Leveille (Pres., CEO & Dir.); William Smith (Sec., Treas., CFO & Dir.);Wayne Maddever (Dir.)

Auditor: Marcum & Kleigman LLP

Securities: Common Stock-Symbol ADSO.OB; OTC BB;34,051,930 common shares outstanding as of August 7, 2006.

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http://www.adserocorp.com/overview.html

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Adsouth Partners, Inc. NAICS 541810Employees 301141 South Rogers Circle

Boca Raton, FL 33487(561) 750-0410 Revenue (mil) $7.73




Event: Adsouth Partners, Inc. reported a $3,502,000 net loss on $795,000 of revenues for thequarter ended June 30, 2006, compared with a $1,322,000 net loss on $277,000 of revenues forthe comparable period in 2005. All $795,000 of the company's revenues for the second quarter of2006 were from generator sales and all $277,000 of the company's revenues for the secondquarter of 2005 were from the advertising services segment. As of June 30, 2006, the company'sbalance sheet showed $5,310,000 in total assets and $7,881,000 in total liabilities, resulting in a$2,571,000 stockholders' deficit. The company's balance sheet at June 30, 2006, also showedstrained liquidity with $3,937,000 in total current assets available to pay $7,835,000 in totalcurrent liabilities.

Intellectual Property: The Company's E-70 trade name is a registered trademark. The Companyhas pending trademark applications filed for Dermafresh and D-Shed. The Company licenses therights for those products for which it has distribution rights. The Company acquired the rights tothe Dermafresh and Miko products, including the formulations for those products. [SEC Filing10-KSB/A 05-01-06]

Description: Adsouth Partners, Inc., a vertically integrated direct response marketing company,engages in the placement of advertising, the production of advertisements, creative advertising,and public relations consulting services in the United States and Canada.

Officers: John Cammarano (CEO & Dir.); Lee Wingeier (CFO); Lauren C. Rios (CCO); Peter Overhuls (VP-Ops.); Michelle Lacerte (VP); Denise Perryman (GM); Harlan I. Press(Dir.); Jerald Horowitz (Dir.); Loren R. Haynes (Dir.)

Auditor: Marcum & Kliegman LLP

Securities: Common Stock-Symbol ASPR.OB; OTC BB;8,922,849 common shares outstanding as of March 28, 2006.

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http://www.adsouthinc.com/aboutus.asp

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Carrols Corporation NAICS 722211Employees 16,300968 James St.

Syracuse, NY 13203(315) 424-0513 Revenue (mil) $706.91



Category: Low Rating

Event: On October 5, 2006, Moody's Investors Service held its Caa1 rating on CarrolsCorporation's $180 million 9% senior subordinated notes due 2013. Moody's assigned the notes aloss-given-default rating of LGD5, suggesting that note holders will experience a loss of 79percent in the event of default.

Intellectual Property: The Company believes that the names and logos for its Hispanic Brandsare important to operations. The Company has registered the Taco Cabana and Pollo Tropicallogos and designs with the U.S. Patent and Trademark Office on the Principal Register as aservice mark for restaurant services. The Company also has secured or has applied for state andfederal registrations of several other advertising or promotional marks, including variations ofprincipal marks, and has applied for or been granted registrations in foreign countries of principalmarks and several other marks. Other than the Taco Cabana and Pollo Tropical trademarks, theCompany has no proprietary intellectual property other than the logo and trademark of CarrolsCorporation. As a franchisee of Burger King, the Company also has contractual rights to usecertain BKC-owned trademarks, service marks and other intellectual property relating to theBurger King concept. [SEC Filing 10-K 06-30-06]

Description: Carrols Corporation is a restaurant company based in the U.S. that owns, operatesand franchises restaurants under the Burger King, Pollo Tropical, Taco Cabana brands.

Officers: Alan Vituli (Chair & CEO); Daniel T. Accordino (Pres., COO & Dir.);Paul R. Flanders (VP, Treas. & Dir.); Timothy J. LaLonde (VP & Controller);Benjamin D. Chereskin (Dir.); Robin P. Selati (Dir.); Clayton E. Wilhite (Dir.);Brian F. Gleason (Dir.); Olaseni Adeyemi Sonuga (Dir.)

Auditor: Deloitte & Touche LLP

Securities: 10 common shares outstanding as of August 10, 2006.

Notes: There is no established trading market for the Company's capital stock.

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http://www.carrols.com/html/companyinfo.htm

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Conexant Systems, Inc. NAICS 334413Employees 2,4004000 MacArthur Blvd.

Newport Beach, CA 92660(949) 483-4600 Revenue (mil) $722.74

Income (mil) ($175.99)Assets (mil) $1,581.52Liability (mil) $1,012.43



Event: On October 30, 2006, Moody's Investors Service assigned a Caa1 rating to the corporatefamily rating of Conexant Systems, Inc. The ratings reflect both the overall probability of defaultof the Company under Moody's LGD framework using a fundamental approach, to whichMoody's assigns a PDR of Caa1, and a loss-given-default of LGD-2 for the senior secured notes.Moody's also assigned a SGL-3 speculative grade liquidity rating, reflecting adequate liquidity.

Intellectual Property: The Company owns or licenses a number of U.S. and foreign patents andpatent applications related to products, processes and technologies. The Company also cross-licenses portions of intellectual property and are also cross-licensed under a number ofintellectual property portfolios in the industry that are relevant to technologies and products. TheCompany has filed and received federal and international trademark registrations of the Conexanttrademarks. In addition, the Company has registered or applied to register a number of additionaltrademarks applicable to its products. [SEC Filing 10-K 12-08-05]

Description: Conexant Systems, Incorporated designs, develops and sells semiconductor systemsolutions, comprised of semiconductor devices, software and reference designs, for use inbroadband communications applications.

Officers: Dwight W. Decker (Chair, Pres. & CEO); J. Scott Blouin (SVP & CFO);Donald R. Beall (Dir.); Steven J. Bilodeau (Dir.); Dipanjan Deb (Dir.); F. Craig Farrill (Dir.);Balakrishnan S. Iyer (Dir.); John W. Marren (Dir.); D. Scott Mercer (Dir.); Jerre L. Stead (Dir.);Giuseppe Zocco (Dir.)


Securities: Common Stock-Symbol CNXT; NasdaqGS;482,722,591 common shares outstanding as of July 21, 2006.

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http://www.conexant.com/company/about.html

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Critical Therapeutics, Inc. NAICS 325100Employees 17560 Westview St.

Lexington, MA 02421(781) 402-5700 Revenue (mil) $6.22




Event: As of June 30, 2006, Critical Therapeutics, Inc. continued to report a quarterly netloss of $14.4 million on revenues of $3.5 million. As of June 30, 2006, the Company'saccumulated deficit was $136.8 million, up from the deficit of $105.6 million as of December31, 2005. On October 27, the Company said it will cut 63 positions in a restructuring of its USsales force and research and development group. The positions will be cut by December 31 andwill leave the Company with 59 employees.

Intellectual Property: The Company currently has filed trademark applications to register theCritical Therapeutics name and logo in both the U.S. and Europe and have received notice thatthe Critical Therapeutics name and logo have been accepted for registration in the U.S. TheCompany also has filed trademark applications to register CRTX, CT1 and CT2 in the U.S. InMarch 2004, the Company acquired the U.S. trademark ZYFLO® from Abbott. In addition, theCompany depends upon trade secrets, know-how and continuing technological advances todevelop and maintain competitive position. [SEC Filing 10-K 03-07-06]

Description: Critical Therapeutics, Inc. is a biopharmaceutical company focused on thediscovery, development and commercialization of products designed to treat respiratory,inflammatory and critical care diseases through the regulation of the body’s inflammatoryresponse.

Officers: Robert H. Zeiger (Chair); Frank E. Thomas (Pres., CEO & Dir.); Frederick Finnegan(SVP); Trevor Phillips (SVP & COO); Jeffrey E. Young (VP, Treas. & Chief Acctg. Officer);Scott B. Townsend (VP & Sec.); M. Cory Zwerling (Dir.); Richard W. Dugan (Dir.)


Securities: Common Stock-Symbol CRTX; NasdaqGM;34,244,456 common shares outstanding as of August 7, 2006.

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http://www.criticaltherapeutics.com/about.html

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DOV Pharmaceutical, Inc. NAICS 325412Employees 109Continental Plaza, 433 Hackensack Ave.

Hackensack, NJ 07601(201) 968-0980 Revenue (mil) $8.65



Category: Restructuring

Event: On October 26, 2006, DOV Pharmaceutical, Inc. said it was exploring initiatives toimprove liquidity and that it may be forced to seek protection under United States bankruptcylaws. The Company would initiate discussions with major stakeholders regarding strategicalternatives, which include a consensual restructuring of capital structure. The Company also saidit will be delisted from the Nasdaq exchange from October 27 for failing to meet the minimummarket value of listed securities. As a result of the delisting, the Company was obligated torepurchase its 2.5 percent convertible subordinated debentures, due 2025, on or prior November11. However, the Company said it currently does not have the capital to repurchase the $70million debentures.

Intellectual Property: The Company seeks to protect its rights in the compounds, formulations,processes, therapeutic uses, technologies and other valuable intellectual property invented,developed, licensed or used through a number of methods, including the use of patents, patentextensions, license agreements and confidentiality agreements. The Company has or has licensedfrom others 12 issued U.S. patents, 7 of which have expired, including the patent for the use ofbicifadine for pain, the use of DOV 216,303 for the treatment of depression and a patent coveringocinaplon. The Company intends to file several additional patent applications directed to noveltherapeutic uses and compositions of bicifadine. [SEC Filing 10-K 03-15-06]

Description: DOV Pharmaceutical, Inc. operates as a biopharmaceutical company focused onthe discovery, in-licensing, development and commercialization of novel drug candidates forcentral nervous system, cardiovascular and neurological disorders.

Officers: Leslie Hudson (Pres., CEO & Dir.); Barbara G. Duncan (SVP, Treas. & CFO);Robert Horton (SVP & Gen. Counsel)

Auditor: PricewaterhouseCoopers LLP

Securities: Common Stock-Symbol DOVP.PK; PNK;23,292,405 common shares outstanding as of April 26, 2006.

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http://www.dovpharm.com/

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Dura Automotive Systems, Inc. NAICS 336390Employees 15,8002791 Research Dr.

Rochester Hills, MI 48309(248) 299-7500 Revenue (mil) $2,344.14

Income (mil) $1.81Assets (mil) $2,075.21Liability (mil) $1,735.50


Category: Bankruptcy

Event: Dura Automotive Systems, Inc. and its debtor-affiliates filed for Chapter 11 protection onOctober 30, 2006, with the U.S. Bankruptcy Court in the District of Delaware, case numbers 06-11202 through 06-11243, inclusive, pending before Judge Kevin J. Carey.

Intellectual Property: Dura Automotive Systems, Inc. has over 600 pending and issued patents.Because of the size and diversity of its patent portfolio and current product innovation activities,issued patents expire and new applications are filed on a regular basis. Although the Companybelieves that, taken together, the patents and patents pending are significant, the loss, failure toissue or expiration of any particular patent or patent pending, would not be material. As ofDecember 31, 2005, the Company has $17.6 million intangible assets consisting ofnonamortizable trademarks and amortizable license agreements. [SEC Filing 10-K 03-16-06]

Description: Dura Automotive Systems, Inc. is an independent designer and manufacturer ofdriver control systems and a global supplier of seating control systems, engineered assemblies,structural door modules and integrated glass systems.

Officers: Lawrence A. Denton (Chair, Pres. & CEO); Keith R. Marchiando (VP & CFO)


Attorneys: Kirkland & Ellis LLP; Chicago, IL; (312) 861-2000Richard M. Cieri, Esq.Marc Kieselstein, Esq.

Securities: Common Stock-Symbol DRRA; NasdaqGM;18,904,222 common shares outstanding as of August 2, 2006.

Notes: Financial Condition as of July 2, 2006:Total Assets: $1,993,178,000; Total Debt: $1,730,758,000

Update of profile 06.0004 (Vol. 1, No. 1 – IPP061002)

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http://www.duraauto.com/include/homeTemplate.cfm?ID=0

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Headliners Entertainment Group, Inc. NAICS 711110Employees 75501 Bloomfield Avenue

Montclair, NJ 07042(973) 233-1233 Revenue (mil) $8.62




Event: Headliners Entertainment Group, Inc. reported a $588,105 net loss on $2,490,449 ofrevenues for the second quarter ended June 30, 2006, compared with a $929,971 net loss on$2,342,125 of revenues for the same period in 2005. The company's balance sheet at June 30,2006, showed $4,380,720 in total assets and $14,982,466 in total liabilities, resulting in a$10,601,746 stockholders' deficit. The company's accumulated deficit stood at $69,791,039 as ofJune 30, 2006. At June 30, 2006, the company's balance sheet also showed strained liquidity with$394,649 in total current assets available to pay $4,718,045 in total current liabilities.

Intellectual Property: The Company has altered the use of the Rascals trademark over the pastseveral years, by expanding into new venues. The Company and JHF Property Holdings LLCcommenced development of a comedy club utilizing the Rascals trademark in Hampton, Virginia.[SEC Filing 10-KSB 04-05-06]

Description: Headliners Entertainment Group, Inc. through its subsidiaries, engages in theoperation of comedy clubs primarily in New Jersey. It operates embedded, hotel-based, andlicensed comedy clubs.

Officers: Eduardo Rodriguez (Chair, CEO & CFO); Michael Margolies (Sec. & Dir.)

Auditor: Bagell Josephs Levine & Company LLC

Securities: Common Stock-Symbol HLEG.OB; OTC BB;52,545,535 common shares outstanding as of August 21, 2006.

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http://www.rascalscomedyclub.com/

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Health Sciences Group, Inc. NAICS 325412Employees 66080 Center Drive

Los Angeles, CA 90045(310) 242-6700 Revenue (mil) $0.06




Event: Health Sciences Group Inc. reported a $1,167,951 net loss on $7,608 of sales for thesecond quarter ended June 30, 2006, compared with $527,204 of net income earned on zero salesfor the same period in 2005. At June 30, 2006, the company's balance sheet showed $3,787,776 intotal assets and $8,274,726 in total liabilities, resulting in a $4,486,950 stockholders' deficit. Thecompany's balance sheet at June 30, 2006, also showed strained liquidity with $93,891 in totalcurrent assets available to pay $4,979,831 in total current liabilities.

Intellectual Property: The Company's subsidiary, BioSelect Innovations, Inc., has developed anumber of proprietary and patented product formulations. These patents address the uniqueintegration of selective traditional over-the-counter generic drugs with complementary alternativemedications such as vitamins, herbs and other natural nutraceutical supplements. To date,BioSelect has been issued five patents. The Company maintains and has applied for trademarkand copyright protection in the United States relating to certain of its existing and proposedproducts and processes, including Swiss Research™, Shugr™, Sequesterol™, Aplevia™, OpenCell Biotechnology™. BioSelect maintains and has applied for trademark and copyrightprotection in the United States relating to certain of its existing and proposed products andprocesses, including CoCare™, Conase™, Coprofen™, Epigest Eessentials™, FemdermEssentials™, Femgest Essentials™, and Translipobase™. [SEC Filing 10-KSB 04-17-06]

Description: Health Sciences Group Inc., through its subsidiaries, provides various productsused in nutritional supplements and functional foods and beverages in the United States.

Officers: Fred E. Tannous (Co-Chair, Treas. & CEO); Bill Glaser (Co-Chair); Duke Best(Controller); William T. Walker, Jr. (Dir.); Sid L. Anderson (Dir.); Merrill A. McPeak (Dir.)

Auditor: Stonefield Josephson Inc.

Securities: Common Stock-Symbol HESG.OB; OTC BB;28,275,820 common shares outstanding as of December 31, 2005.

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http://www.healthsciencesgroup.com/

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IceWEB, Inc. NAICS 511210Employees 32205 Van Buren Street, Suite 150

Herndon, VA 20170(703) 964-8000 Revenue (mil) $6.81




Event: For the quarter ended June 30, 2006, IceWeb, Inc. reported a $1,040,201 net loss on$835,555 of revenues, compared to a $102,079 net loss on $2,049,483 of revenues for the sameperiod in 2005. At June 30, 2006, the company's balance sheet showed $2,001,994 in total assets,$1,918,689 in total liabilities, and $83,305 in stockholders' equity. Additionally, accumulateddeficit at June 30, 2006 stood at $9,058,619. The company's balance sheet also showed strainedliquidity with $788,949 in total current assets available to pay $1,689,001 in total currentliabilities.

Intellectual Property: The Company's success depends in part on its ability to protectintellectual property. The source codes, object codes, and documentation related to its productsare all proprietary. The Company also relies on common law rights to trademark and service mark"IceWEB" in both block letters and stylized form. To protect proprietary rights, the Companyrelies on copyright and trade secret laws, confidentiality agreements with employees and thirdparties, and agreements with consultants, vendors and customers, although the Company has notsigned such agreements in every case. [SEC Filing 10-KSB 01-18-06]

Description: IceWEB, Inc. develops content creation, management, publication, and deliverytools, which is implemented on Website. It also develops e-learning content and e-learningportals.

Officers: John R. Signorello (Chair & CEO); G. Anthony Munno (Pres.); James M. Bond (CIO);Brian E. Crooks (CFO); Harold F. Compton (Dir.); Raymond Pirtle (Dir.); Joseph L. Druzak(Dir.); Jack Bush (Dir.)

Auditor: Sherb & Co., LLP

Securities: Common Stock-Symbol IWEB.OB; OTC BB;8,393,319 common shares outstanding as of August 15, 2006.

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http://www.iceweb.com/home/about_us.asp

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InterMune, Incorporated NAICS 325412Employees 1933280 Bayshore Blvd.

Brisbane, CA 94005(415) 466-2200 Revenue (mil) $107.63




Event: InterMune, Incorporated's balance sheet as of June 30, 2006, showed total assets of$224,967,000 and total liabilities of $229,662,000, resulting in a total stockholders' deficit of$4,695,000. The Company posted an accumulated deficit of $517,647,000 as of June 30, 2006,compared with an accumulated deficit of $460,881,000 as of December 31, 2005. For the threemonths ended June 30, 2006, the Company reported a $43,980,000 net loss on $24,111,000 of netrevenues, compared with a $23,728,000 net loss on $26,674,000 of net revenues for the threemonths ended June 30, 2005.

Intellectual Property: Based on internal research efforts, the Company has filed numerouspatents relating to the use of interferons to treat a variety of diseases in the areas of pulmonology,hepatology and oncology. In addition, the Company has filed for patents on a number of smallmolecules in hepatology and pulmonology. The Company also holds additional intellectualproperty in its core therapeutic areas. For example, the Company has filed numerous patentapplications relating to the use of interferons and small molecules for the treatment of variousdiseases in the areas of pulmonology, HCV and oncology. [SEC Filing 10-K 03-13-06]

Description: InterMune, Incorporated, a biopharmaceutical company, engages in thedevelopment and commercialization of innovative therapies in pulmonology and hepatology. Itscore marketed products include Actimmune for severe, malignant osteopetrosis and chronicgranulomatous disease and Infergen for chronic hepatitis C virus (HCV) infections.

Officers: William R. Ringo, Jr. (Chair); Daniel G. Welch (Pres., CEO & Dir.); John Hodgman(SVP & CFO); William A. Halter (Dir.); James I. Healy (Dir.); David S. Kabakoff (Dir.);Jonathan S. Leff (Dir.); Michael L. Smith (Dir.); Lars Ekman (Dir.)

Auditor: Ernst & Young LLP

Securities: Common Stock-Symbol ITMN; NasdaqGM;33,750,332 common shares outstanding as of July 31, 2006.

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http://www.intermune.com/wt/itmn/corporate_overview

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ISTA Pharmaceuticals, Inc. NAICS 325410Employees 16115295 Alton Parkway

Irvine, CA 92618(949) 788-6000 Revenue (mil) $10.67




Event: On November 2, 2006, ISTA Pharmaceuticals, Inc. posted a third quarter net loss of$11.5 million, or $0.44 per share, compared with a loss of $9.1 million, or $0.35 per share, in theprior year quarter. The Company noted that the results for the latest quarter included a $2 millionupfront payment pertaining to a licensing agreement. Quarterly revenues totaled $8.6 millioncompared to $3.52 million in the year ago quarter.

Intellectual Property: The Company's success will depend in part on its ability to obtain patentprotection for inventions, to preserve trade secrets and to operate without infringing theproprietary rights of third parties. The Company currently owns or licenses 43 U.S. and foreignpatent applications and 78 U.S. and foreign issued patents. In addition to patents, the Companyrelies on trade secrets and proprietary know-how. The Company seeks protection of these tradesecrets and proprietary know-how, in part, through confidentiality and proprietary informationagreements. The Company also files trademark applications to protect the names of its products.Some of its trademarks, including Caprogel and Xibrom, are owned by or assignable to licensorsEastern Virginia Medical School and Senju. [SEC Filing 10-K 03-06-06]

Description: ISTA Pharmaceuticals, Inc. engages in the development and commercialization ofproducts for serious diseases and conditions of the eye.

Officers: Vicente Anido, Jr. (Pres., CEO & Dir.); Lauren P. Silvernail (VP, CFO & Chief Acctg.Officer); Richard C. Williams (Dir.); Rolf Classon (Dir.); Peter Barton Hutt (Dir.); Kathleen D. LaPorte (Dir.); Benjamin F. McGraw III (Dir.); Dean J. Mitchell (Dir.);Wayne I. Roe (Dir.); Andrew J. Perlman (Dir.)


Securities: Common Stock-Symbol ISTA; NasdaqGM;25,928,096 common shares outstanding as of July 31, 2006.

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http://www.istavision.com/company/default.asp?referer=company

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IVI Communications, Inc. NAICS 518111Employees 35959 W Century Blvd Suite 573

Los Angeles, CA 90045(310) 216-7740 Revenue (mil) $2.68




Event: Atlantic Wine Agencies, Inc. reported a $16,937 net loss on $55,959 of sales for the firstfiscal quarter ended June 30, 2006, compared with a $454,507 net loss on $94,302 of sales for thesame period in 2005. At June 30, 2006, the company's balance sheet showed $3,704,411 in totalassets, $1,756,928 in total liabilities, and $1,947,483 in total stockholders' equity. The company'sbalance sheet at June 30, 2006, also showed strained liquidity with $975,180 in total currentassets available to pay $1,756,928 in total current liabilities.

Intellectual Property: The Company owns several Internet domain names, including, amongothers, www.ivn.net, www.ibconsulting.com, www.appstate.net, www.futura.net, www.lickity-split.net, and www.lickitysplit.tv. The regulation of domain names in the United States and inforeign countries may change. Regulatory bodies could establish additional top-level domains ormodify the requirements for holding domain names, any or all of which may dilute the strength ofits name. [SEC Filing 10-KSB 06-02-06]

Description: IVI Communications, Inc., through its subsidiaries, operates as an Internet serviceprovider (ISP) in the United States.

Officers: Nyhl Henson (Pres. & CEO); Charlie Roodenburg (EVP & COO)

Auditor: Bagell Josephs Levine & Company LLC

Securities: Common Stock-Symbol IVCM.OB; OTC BB;62,985,587 common shares outstanding as of March 31, 2006.

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http://www.ivn.net/

http://www.ivn.net/

http://www.lickity-split.net/

http://www.lickity-split.net/

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Michael's Stores, Inc. NAICS 451120Employees 43,7008000 Bent Branch Dr.

Irving, TX 75063(972) 409-1300 Revenue (mil) $3,676.37

Income (mil) $131.02Assets (mil) $1,875.56Liability (mil) $588.21



Event: Moody's Investors Service assigned a Caa1 rating to Michael's Stores, Inc.’s proposed$250 million issue of junior subordinated discount notes. Moody's also affirmed its Caa1 ratingon the Company's $400 million senior subordinated notes. Moody's does not rate the proposed $1billion secured revolving credit facility. Proceeds from the new debt, together with incrementalequity investment from the new owners Blackstone and Bain, will be used to finance theleveraged buyout of the Company for total consideration of about $6 billion.

Intellectual Property: The names “Aaron Brothers,” “Aaron Brothers Art & Framing,”“Artistree Art Frame & Design,” “Michaels,” “Michaels.com,” “Michaels The Arts and CraftsStore,” “Recollections,” “Star Decorators Wholesale Warehouse,” “Vendor Connect,” and theMichaels logo are each federally registered service marks. [SEC Filing 10-K 03-30-06]

Description: Michael's Stores, Inc. is a national arts and crafts specialty retailer providingmaterials, ideas and education for creative activities.

Officers: Charles J. Wyly (Chair); Sam Wyly (Vice Chair); Jeffrey N. Boyer (Co-Pres. & CFO);Gregory A. Sandfort (Co-Pres. & COO); Richard E. Hanlon (Dir.); Richard C. Marcus (Dir.);Liz Minyard (Dir.); Cece Smith (Dir.)


Securities: Common Stock-Symbol MIK; NYSE;133,326,492 common shares outstanding as of September 5, 2006.9 1/4% senior notes due 2009.

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http://www.michaels.com/art/online/static?page=corp_info

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NuTech Digital, Inc. NAICS 451220Employees 127900 Gloria Avenue

Van Nuys, CA 91406(818) 994-3831 Revenue (mil) $2.78




Event: NuTech Digital, Inc. reported a $399,002 net loss on $188,020 of sales for the secondquarter ended June 30, 2006, compared with a $596,248 net loss on $299,252 of sales for thesame period in 2005. At June 30, 2006, the company's balance sheet showed $2,496,373 in totalassets and $3,334,558 in total liabilities, resulting in a $838,185 stockholders' deficit. Thecompany's balance sheet at June 30, 2006, also showed strained liquidity with $659,730 in totalcurrent assets available to pay $2,549,398 in total current liabilities.

Intellectual Property: The Company does not have patents, franchises or concessions.However, many of its film titles are licensed from third parties. Most of the license agreementsrequire the Company to pay an advance royalty, which it recoups through sales. Some of thelicense agreements require the Company to pay royalties during the term of the license. Thecomputation of royalties varies, depending on its determination of the importance of the title toproduct offerings. The Company also purchases the rights to certain film titles for a one-time fee,rather than for the payment of on-going royalties. The films the Company makes of popularmusic concerts will be registered with the U.S. Copyright Office. Generally, the Company co-owns the copyright of the work with the artist. [SEC Filing 10-K 04-17-06]

Description: NuTech Digital, Inc. engages in the production of music concerts, as well as in thelicensing and distribution of entertainment products.

Officers: Lee Kasper (Pres., CEO CFO & Dir.); Joseph Giarmo (VP & Dir.); Yegia Eli Aramyan(Dir.); Jay S. Hergott (Dir.)

Auditor: Farber Hass Hurley & McEwen, LLP

Securities: Common Stock-Symbol NTDL.OB; OTC BB;25,572,494 common shares outstanding as of April 10, 2006.

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http://www.nutechdvd.com/corphome.asp?CartID=1966FEEVERESTE3-2551-4A0A-9189-87AD4CED49BC&URL=7

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Roo Group, Inc. NAICS 516110Employees 78228 East 45th Street, 8th Floor

New York City, NY 10017(212) 661-4111 Revenue (mil) $6.62




Event: Roo Group Inc. reported a net loss of $3,247,000 on revenues of $2,014,000 for thequarter ended June 30, 2006, compared to a net loss of $1,223,000 on $1,549,000 revenues for thesame period in 2005. At June 30, 2006, the company's balance sheet showed $6,818,000 in totalassets, $3,405,000 in total liabilities, Minority Interest of $125,000, and $3,288,000 in totalstockholders' equity.

Intellectual Property: The Company has applied with the U.S. Patent and Trademark Officeand the European Union for a service mark of the name "ROO". Both of these applications arepending. Through its subsidiary, VideoDome.com Networks, Inc., the Company has the rights toa registered service mark of the name "VideoDome.com Network". A portion of its software islicensed from third parties and a large portion is developed by its own team of developers. [SECFiling 10-KSB 04-17-06]

Description: ROO Group, Inc., through its subsidiaries, operates as a digital media company inthe United States. It provides products and solutions that enable the broadcast of topical videocontent from its customers' Internet Web sites. The company provides technology and contentrequired for video to be played on computers through the Internet, as well as broadcastingplatforms, such as set top boxes and wireless devices.

Officers: Robert Petty (Chair & CEO); Robin Smyth (CFO & Dir.); Steve Quinn (COO);Tristan Place (VP-Sales); Max Moore (VP-Bus. Devt.); Doug Chertok (Dir.)

Auditor: Moore Stephens, P.C.

Securities: Common Stock-Symbol RGRP.OB; OTC BB;13,176,436 common shares outstanding as of August 17, 2006.

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http://www.roogroupinc.com/about/

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Sepracor, Incorporated NAICS 325412Employees 2,05984 Waterford Dr.

Marlborough, MA 01752(508) 481-6700 Revenue (mil) $820.93

Income (mil) $4.97Assets (mil) $1,274.50Liability (mil) $1,439.99



Event: On August 14, 2006, Sepracor, Incorporated posted total an accumulated deficit of$1,641,547,000 and stockholders' deficit of $109,459,000 as of June 30, 2006. As of December31, 2005, the Company posted an accumulated deficit of $1,662,627,000 and a stockholders'deficit of $165,489,000. For the quarter ended June 30, 2006, the Company earned $11,044,000on revenues of $264,406,000, compared with a net loss of $7,661,000 on revenues of$185,064,000 for the three months ended June 30, 2005, as restated.

Intellectual Property: The Company has five issued U.S. patents covering the approvedtherapeutic use of XOPENEX HFA, expiring between January 2010 and August 2013. TheCompany also has a non-exclusive license under certain patents owned by 3M that relate to HFAinhalation aerosol technology. [SEC Filing 10-K 10-K/A 09-12-06]

Description: Sepracor, Incorporated is a research-based pharmaceutical company dedicatedto treating and preventing human disease through the discovery, development andcommercialization of pharmaceutical products that are directed toward serving unmet medicalneeds.

Officers: Timothy J. Barberich (Chair, CEO & Dir.); David P. Southwell (EVP, Sec. & CFO);Robert F. Scumaci (EVP & Treas.); James G. Andress (Dir.); Digby W. Barrios (Dir.);Robert J. Cresci (Dir.); James F. Mrazek (Dir.); Timothy J. Rink (Dir.); Alan A. Steigrod (Dir.)


Securities: Common Stock-Symbol SEPR; NasdaqGS;109,258,202 common shares outstanding as of July 31, 2006.

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http://www.sepracor.com/

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SEQUENOM, Incorporated NAICS 541710Employees 1063595 John Hopkins Court

San Diego, CA 92121(858) 202-9000 Revenue (mil) $19.42




Event: On November 2, 2006, SEQUENOM, Incorporated posted a 2006 third quarter net lossof $4.6 million, or $0.14 per share, compared with a net loss of $6 million, or $0.46 per share, inthe prior year quarter. Third quarter revenues rose 43 percent to $6.5 million from $4.6 million.

Intellectual Property: To establish and protect proprietary technologies and products, theCompany relies on a combination of patent, copyright, trademark and trade secret laws, as well asconfidentiality provisions in its contracts. The Company has implemented a diligent patentstrategy designed to facilitate research and development and commercialization of current andfuture products. The Company's patent portfolio includes 259 issued patents and more than 205pending patent applications in the U.S. in addition to foreign patent rights and pendingapplications in major industrial nations. The majority of the Company's issued U.S. patentspertaining to DNA analysis methods and technology will expire between 2013 and 2017. U.S.Patent Nos. 6,500,621, 6,300,076, 6,258,538, and 5,869,242 and European Patent No. EP0815261 each claim DNA analysis by mass spectrometry methods, including genotyping andallele frequency analysis methods, that may be performed using its MassARRAY system. Each ofthese patents expires in 2015. Most of its genetically based disease association inventions are thesubject of pending patent applications, including provisional patent applications. These patentapplications are in the early stages of patent prosecution and it is difficult to predict when patentswill issue, if at all. [SEC Filing 10-K 03-31-06]

Description: SEQUENOM, Incorporated provides genetic analysis products that translategenomic science into superior solutions for biomedical research and molecular medicine.

Officers: Harry Stylli (Pres., CEO & Dir.); Clarke Neumann (VP & Gen. Counsel);John Sharp (VP & Treas.); Michael Monko (SVP); Charles R. Cantor (Chief Scientific Officer &Dir.); Larry E. Lenig, Jr. (Dir.); Patrick G. Enright (Dir.); Paul W. Hawran (Dir.)


Securities: Common Stock-Symbol SQNM; NasdaqGM;33,433,804 common shares outstanding as of August 1, 2006.

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http://www.sequenom.com/about_sequenom/company_overview.php

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Sequiam Corporation NAICS 334119Employees 19300 Sunport Lane

Orlando, FL 32809(407) 541-0773 Revenue (mil) $0.63




Event: Sequiam Corp. reported a $2,645,941 net loss on $120,966 of revenues for the secondquarter ended June 30, 2006, compared with a $1,471,020 net loss on $69,522 of revenues for thesame period in 2005. At June 30, 2006, the company's balance sheet showed $4,335,107 in totalassets and $7,204,472 in total liabilities, resulting in a $2,869,365 stockholders' deficit. Thecompany's balance sheet at June 30, 2006, also showed strained liquidity with $2,081,920 in totalcurrent assets available to pay $5,702,028 in total current liabilities.

Intellectual Property: The Company discloses that its patent pending for “BioVault™” wasrecently denied. The Company has resubmitted its patent application with the U.S. Patent Office.The Company has not sought patent protection for any of its software products due to the lengthof the patent application procedure and the necessity to continually develop and improve softwareproducts. The Company plans to register intellectual property whose patentability time bar hasexpired with the Software Patent Institute database to prevent anyone else from patenting suchintellectual property. U.S. Patent No. 6,865,285 B1 relating to “BritePrint” was issued on March8, 2005, and expires March 8, 2025. The Company does not anticipate that it will file anyadditional patents on existing biometric products at this time. The Company has registered“Sequiam”, “IRP”, “Book It, ROVER!”, “Smart Biometrics”, “BioVault” and “QuestPrint” (astrademarks) with the U.S. Patent and Trademark Office. [SEC Filing 10-K 04-14-06]

Description: Sequiam Corporation, through its subsidiaries, offers biological identificationsecurity systems and Web-based application services.

Officers: Nicholas H. VandenBrekel (Chair, Pres. & CEO); Mark L. Mroczkowski (SVP, CFO& Dir.); James C. Stanley (Dir.); Alan McGinn (VP & CTO)

Auditor: Tedder James Worden & Associates P.A.

Securities: Common Stock-Symbol SQUM.OB; OTC BB;64,458,321 common shares outstanding as of March 14, 2006.

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http://www.sequiam.com/

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SunCom Wireless Holdings, Inc. NAICS 517212Employees 1,9591100 Cassatt Rd.

Berwyn, PA 19312(610) 651-5900 Revenue (mil) $826.16

Income (mil) ($496.81)Assets (mil) $2,000.22Liability (mil) $2,083.37



Event: On November 2, 2006, SunCom Wireless Holdings. Inc. said its third-quarter lossnarrowed as revenue and subscriber numbers grew. The Company posted a net loss of$40.5 million, or 59 cents per share, compared with a loss of $117.3 million, or $1.73 pershare, during the same period a year ago. Sales climbed 2 percent to $219.1 million fromlast year's $214.5 million.

Intellectual Property: As a result of the consummation of the Triton Holdings Agreement, theCompany owns Affiliate License Co., LLC, which is the owner of the SUNCOM family ofservice marks. The SUNCOM service mark is registered with the U.S. Patent and TrademarkOffice. The following services marks containing the word SUNCOM are also registered with theU.S. Patent and Trademark Office: SUNCOM and DESIGN; SUNCOM CONNECT; SUNCOMFYI; SUNCOM INET; SUNCOM KEEP TALKING; SUNCOM PREPAID TO GO; SUNCOMSTATES; SUNCOM SUBSCRIPTION WIRELESS; SUNCOM SUPERSTATES; SUNCOM TOGO; SUNCOM UNLIMITED; SUNCOM UNPLAN; SUNCOM USA; SUNCOM WELCOMEHOME; and SUNCOM WIRELESS and DESIGN. [SEC Filing 10-K 03-16-06]

Description: SunCom Wireless Holdings, Inc. provides digital wireless communicationsservices in the southeastern United States, Puerto Rico and the U.S. Virgin Islands. It wasformerly known as Triton PCS Holdings, Inc. and changed its name to SunCom WirelessHoldings, Inc. in May 2005.

Officers: Michael E. Kalogris (Chair & CEO); Eric Haskell (CFO, Chief Compliance Officer& Dir.); Harry Roessner (VP & Controller); Mathias DeVito (Dir.); Arnold Sheiffer (Dir.);Scott I. Anderson (Dir)


Securities: Common Stock-Symbol TPC; NYSE;71,243,870 common shares outstanding as of July 31, 2006.8 1/2% senior notes due 2013; 9 3/8% senior subordinated notes due 2011; 8 3/4% seniorsubordinated notes due 2011.

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http://www.tritonpcs.com/

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Wave Wireless Corporation NAICS 517212Employees 471996 Lundy Ave.

San Jose, CA 95131(408) 943-4200 Revenue (mil) $22.93



Category: Bankruptcy

Event: Wave Wireless Corporation filed for Chapter 11 protection on October 31, 2006 with theBankruptcy Court for the District of Delaware, case number 06-11267, Judge Peter Walshpresiding.

Intellectual Property: Wave Wireless generally owns its intellectual property, except for itsexisting patents, which were sold to a third party in November 2005. In connection with this sale,Wave Wireless retained a non-exclusive, perpetual, royalty free right and license to use thepatents in connection with its millimeter wave radio licensed products. Wave Wireless relies onits ability to obtain and enforce its intellectual property rights, including copyrights on itsproprietary software. Wave Wireless also enters into software license agreements with itscustomers and others. [SEC Filing 10-KSB 03-24-06]

Description: Wave Wireless develops, manufactures and distributes next generation wirelessmesh routers for the telecommunications, security and surveillance and public safety markets.

Officers: George P. Roberts (Chair); Daniel W. Rumsey (Int. CEO); Don Meiners (Pres.);Carlos Belfiore (VP & CTO); Richard Reiss (Dir.); Frederick Fromm (Dir.); R. Craig Roos (Dir.)

Auditor: Aidman, Piser & Company

Securities: Common Stock-Symbol WVWCQ.PK; PNK;22,461,684 common shares outstanding as of March 1, 2006.

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http://www.wavewireless.com/

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Wolverine Tube, Inc. NAICS 331421Employees 3,087200 Clinton Ave. West, 10th Floor

Huntsville, AL 35801(256) 353-1310 Revenue (mil) $873.51




Event: On November 1, 2006, Standard & Poor's Ratings Services lowered its corporate creditrating on Wolverine Tube, Inc., to 'CC' from 'CCC+', after the Company's exchange offer andsolicitation of consent filed with the SEC on November 1. The rating on the Company's seniorunsecured notes was also lowered to 'C' from 'CCC'. "The lower ratings on the notes reflect thedistressed nature of the proposed exchange," said Standard & Poor's credit analyst Lisa Tilis. Theregistration statement filed on November 1 included solicitation for a prepackaged plan underChapter 11. Also, Moody's downgraded the ratings of the Company's senior unsecured notes toCaa3 from Caa2 and its corporate family rating to Caa2 from Caa1.

Intellectual Property: The Company owns a number of trademarks and patents (in the U.S. andother jurisdictions) on its products and related manufacturing processes and has been grantedlicenses with respect to some of its trademarks and patents. In addition to trademark and patentprotection, the Company relies on trade secrets, proprietary know-how and technologicaladvances that it seeks to protect. [SEC Filing S-4 11-01-06]

Description: Wolverine Tube, Inc. engages in the manufacture and distribution of copper andcopper alloy tubular products, fabricated and metal joining products, as well as rod and barproducts.

Officers: John L. Duncan (Chair); Johann R. Manning, Jr. (Pres., CEO & Dir.); James E. Deason(SVP, Sec. & CFO); Julie A. Beck (Dir.); John L. Duncan (Dir.); David M. Gilchrist, Jr. (Dir.);William C. Griffiths (Dir.); Jan K. Ver Hagen (Dir.); Stephen E. Hare (Dir.); Gail O. Neuman(Dir.)

Auditor: KPMG LLP

Securities: Common Stock-Symbol WLV; NYSE;15,071,391 common shares outstanding as of August 8, 2006.7.375% senior notes due August 2008; 10.5% senior notes due April 2009.

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http://www.wlv.com/about/company-profile.html

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